On January 1, 2024, the US Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued a press release announcing it has begun accepting Corporate Transparency Act (CTA) beneficial ownership information (BOI) reports on its new BOI E-filing system.

In the press release, FinCEN shares basic CTA reporting requirement information and provides a link to access the new BOI E-filing system. The BOI E-filing system also contains a new link for individuals to apply for an optional FinCEN identifier (FinCEN IDs).

For more information about the CTA generally, including the types of entities that are reporting companies required to file their BOI under the CTA, the types of entities that are exempt from the reporting requirements, and when initial reports and changes to reports must be filed, see Practice Note, Corporate Transparency Act Beneficial Ownership Reporting and the Corporate Transparency Act (CTA) Toolkit.